Hyundai OilBank purchased in Singapore a 30,000-mt cargo of 380CST bunker fuel oil for June delivery to South Korea in a bid to meet demand from clients, according to South Korean fuel oil traders.
The refiner had insufficient bunker fuel oil to supply after it put a 52-kbd residue fluid catalytic cracker into commercial operation at Daesan refinery at the end of May, the traders said.
With the unit on stream, Daesan refinery's bunker fuel oil output slumped by 120,000mt to only 100,000-120,000mt per month.
Hyundai Oilbank stopped exporting fuel oil from June, a month ahead of scheduled, C1 reported earlier.
Hyundai Oilbank used to supply110,000mt of high-sulfur 180CST straight-run fuel oil each month, half of which was sold to China and the other half to Singapore, showed C1's record.
